We still haven’t seen a copy of the fee agreements in either the Beacon or Metropolitan class action suits (anyone?), but the word on the street is that the attorney’s 50% contingency fee doesn’t include “costs” (which could add up to another 15% of the “gross recovery”). If accurate, this would mean that the Plaintiffs could end up “recovering” just 35% of any award.
∙ A Big Bad Lawsuit At The Beacon [SocketSite]
∙ A Class Action Suit At The Metropolitan? [SocketSite]
If that’s the case, I wonder why the plaintiffs would even consider bringing a lawsuit. That 35% may not even be enough to make the necessary repairs or compensate the plaintiffs.